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Drewry's box index up, and ready to spike ahead of Chinese New Year
THE World Container Index assessed by Drewry, a composite of container freight rates on eight major routes to and from the US, Europe and Asia, was up 2.4 per cent to US$1440.99 per FEU as of January 18.
The average composite index of the WCI, assessed by Drewry year to date, is $162 lower than the five-year average of $1,581 per FEU.
Rate increases from Asia to the US east coast gained with the WCI on Shanghai-New York strengthening by $429 per FEU to reach $2,869.
Meanwhile, rate hikes during the first week of January to the US west coast fell and Shanghai-Los Angeles rates lost $51 per FEU.
Rates on Asia-North Europe route were stable this week while rates on Shanghai-Genoa gathered $61 to reach $1,491 for an FEU. "We expect the demand spike before the Chinese New Year holidays to result in a volley of rate hike attempts from carriers," said Drewry.
The average composite index of the WCI, assessed by Drewry year to date, is $162 lower than the five-year average of $1,581 per FEU.
Rate increases from Asia to the US east coast gained with the WCI on Shanghai-New York strengthening by $429 per FEU to reach $2,869.
Meanwhile, rate hikes during the first week of January to the US west coast fell and Shanghai-Los Angeles rates lost $51 per FEU.
Rates on Asia-North Europe route were stable this week while rates on Shanghai-Genoa gathered $61 to reach $1,491 for an FEU. "We expect the demand spike before the Chinese New Year holidays to result in a volley of rate hike attempts from carriers," said Drewry.
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